Since 2018, Rhode Island has raised its minimum wage seven times, totaling a 39% increase.
The state’s minimum wage will rise again on New Year’s Day by $1, to $16, with another hike to $17 coming in 2027.
The Most Undervalued Asset in Business: The Right Connection
By Emilio DiSpirito IV License Partner | Private Office Advisor Engel & Volkers Oceanside www.DiSpiritoteam.com…
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Businesses have warned that the state has been moving too fast to boost wages. Many have responded by raising prices and/or cutting staff. Some businesses are also increasingly shifting to part-time positions, often without company benefits, to replace more costly, full-time staffing.
The Rhode Island Small Business Development Center is suggesting concerned companies eliminate overspending, adjust pricing, invest in point-of-sale systems and inventory management software, and expand into e-commerce.
